San Diego economic index slips

City News Service

The Index of Leading Economic Indicators for San Diego County, released today by the University of San Diego Burnham-Moores Center for Real Estate, fell 0.2 percent in October from the previous month.

Increases in the outlook for the national economy and gains in help-wanted advertising were offset by lower consumer confidence and a drop in the number of approved residential building permits, USD Professor Alan Gin said.

For the fourth straight month, half the components of the index were up and half were down, according to Gin. He also said a pattern in which the overall index falls slightly one month and increases a small bit the next month was extended to half a year.

“With no turning point being signaled, the outlook for the local economy remains unchanged from what was previously reported — positive but weak growth through at least the first half of 2012,” Gin said.

October’s job growth was the highest since 2005, and help-wanted advertising increased for the 10th straight month, according to the professor.

On the down side, the number of building permits issued fell for the fifth straight month and there were fewer construction jobs, he said.

It is likely the number of building permits approved in 2011 will be higher than last year, but it will still end up being the third worst year for that sector since he began keeping records 20 years ago, Gin said.

Related posts:

  1. USD report show minor uptick in economic index
  2. San Diego economic index ticks up a notch
  3. Local stocks movement aids county’s economic indicators
  4. San Diego economic indicators remain unchanged for third month
  5. Economic indicators for San Diego show slight dip in September

Short URL: http://www.lajollalight.com/?p=55478

Posted by Staff on Nov 30, 2011. Filed under News, Region. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Leave a Reply

Bottom Buttons 1

Bottom Buttons 2

Bottom Buttons 3

Bottom Buttons 4

Bottom Buttons 5

Bottom Buttons 6

RSS North Coastal News

  • Man pleads guilty in fatal Del Mar hit-and-run case April 17, 2014
    A man who drove drunk and struck a marine biologist in a crosswalk in Del Mar, then fled the scene, pleaded guilty April 16 to gross vehicular manslaughter while intoxicated and a hit-and-run allegation. Christopher ``Chip’’ Stockmeyer, 41, faces between nine and 15 years in prison when he is sentenced June 20 for the March 28 death of Rachel Morrison. […]
  • Del Mar Powerhouse 10U Champions April 17, 2014
    The Del Mar Powerhouse 10U team played two pool play games and two elimination games to go undefeated in the Triple Crown Sports San Diego Open and win the Division 1 Championship. The boys showed great determination and fight to come away victorious in elimination play and battle for the win with a one-run margin of victory for both semi-final and champions […]
  • Canyon Crest girls crack top three at Arcadia, set new school record April 17, 2014
    Several young women runners from Carmel Valley high schools raced well in the Arcadia Invitational on April 11-12 in Los Angeles. Arcadia is considered to be one of the most competitive high school track and field meets in the country, drawing both national and international athletes to compete. […]